Residents of British Columbia saw inflation rise 2.2 per cent between October 2018 and October 2019 according to new statistics (Black Media Press File).

British Columbians pay more for goods and services than most other Canadians

Year-to-year inflation rate up 2.2 per cent in October second-highest rate in Canada

Inflation in British Columbia has outpaced inflation in many other parts of Canada during the last year, according to new statistics.

The Consumer Price Index (CPI) rose 2.2 per cent in October 2019 compared to October 2018, according to Statistics Canada. By comparison, the national inflation rose 1.9 per cent during the same period. British Columbia was among three provinces which saw increases of 2.2 per cent. Only Quebec recorded a higher increase with 3.2 per cent.

RELATED: B.C. pushes for greater industry ‘transparency’ in gasoline pricing

Two factors mainly contributed to the increase: the cost of housing and the cost of owning a vehicle. Mortgage interest rates rose seven per cent, while rent rose 3.7 per cent. Passenger vehicle insurance premiums rose nine per cent, while the cost of vehicle purchases rose 1.8 per cent. This said, the cost of gasoline dropped 6.7 per cent.

Internet and telephone services also cost less this October compared to October 2018, dropping 7.9 per cent and 3.8 per cent respectively.


Like us on Facebook and follow @wolfgang_depner

wolfgang.depner@peninsulanewsreview.com

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The Capital Regional District spent $1.7 million to restore the Todd Creek Trestle. (Sooke News Mirror)
Todd Creek Trestle restoration completed

Restoration work adds 35 to 50 years to life span of the structure

An artists rendering of the proposed Aragon Properties development in Sooke’s town centre shows a friendly, walkable neighbourhood. (Contributed graphic)
Large housing development eyed for Sooke core

Aragon Properties seeks to build 132 housing units

Local New Democrat Zeb King welcomed Premier John Horgan during a brief photo opportunity in Sidney Monday afternoon (Wolf Depner/News Staff)
NDP leader John Horgan predicts party will ‘flip’ Saanich North and the Islands

Incumbent MLA Adam Olsen calls Horgan’s claim ‘bold’

A 23-foot sailboat that broke free from its anchor was smashed against Cattle Point during the early October south-easterly storms. (Ron Geezin Photo)
Storm-smashed boat pulled off rocks of Cattle Point in Oak Bay

Sailboat a casualty of last week’s big storms

West Shore RCMP say a single car crash into a power pole caused a power outage that affected over 1,500 residents in Colwood on Monday morning. (West Shore RCMP)
Vancouver driver cause of power outage in Colwood

Police detain 27-year-old man for impaired driving investigation

Advance polls are open from Oct. 15 to 21 with election day on Oct. 24. (Black Press Media file photo)
A passer-by walks past a COVID-19 testing clinic in Montreal, Friday, Oct. 16, 2020. THE CANADIAN PRESS/Ryan Remiorz
Canada ‘yet to see’ deaths due to recent COVID surge as cases hit 200,000

Much of the increase in case numbers can be attributed to Ontario and Quebec

Police confirm human remains were found in a recycling bin in Vancouver on Oct. 18, 2020. (Black Press Media file photo)
Human remains found in recycling bin floating near Vancouver beach

Police asking nearby residents to see if their recycling bin has gone missing

(File photo)
RCMP: Two men face charges in reported Parksville fatal hit-and-run

Investigation into man’s death began in August of 2019

OPINION SIG
SOOKE HISTORY: Prince of Wales visited Sooke twice

Royal connections to Lady Emily Walker and Rev. Reginald Walker

B.C. Liberal leader Andrew Wilkinson visits a North Vancouver daycare to announce his party’s election promises for child care, Oct. 9, 2020. (B.C. Liberal Party video)
B.C. parties pitch costly child care programs in pandemic

B.C. Liberals say they’ll deliver on NDP’s $10-a-day promise for lower-income families

Steven Michael Bacon pleaded not guilty to a charge of first-degree murder of Nanaimo teen Makayla Chang. (Photos submitted)
Accused pleads not guilty in Nanaimo teen’s 2017 murder

Steven Bacon appeared in Nanaimo court Monday via video link from Thunder Bay

Voting station at Tzeachten Hall in the riding of Chilliwack-Kent on the first day of advance voting in the provincial election on Oct. 15, 2020. (Paul Henderson/ Chilliwack Progress)
B.C. VOTES 2020: 380,000 British Columbians head to polls in first 4 days of advance voting

Some of highest voter turnout so far has been seen on Vancouver Island and in Shuswap

Most Read